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Port Moresby
November 27, 2021
Business News

From Rent Collectors to Developers

by Delly Waigeno – EM TV News, Port Moresby

Landowner companies in Papua New Guinea should not be just be seen as rent collectors, but rather become joint venture partners in business.

Governor for Southern Highlands Province, William Powi, made the comments at the recent opening of the new-look PNG-owned, Pearl Pacific Resort, in Fiji.

Powi stressed that landowner companies and businesses in PNG need to take the lead in business and investments.

The Governor was part of the PNG delegation that witnessed the opening of the new-look Pearl Pacific Resort, with its brand new 132 guest rooms.

As the political head of the Southern Highlands Province and of those from Petroleum Resources Kutubu, Powi recalled the disapproval by members of the public when the resort was first acquired by MRDC in 2012.

The hotel is owned by the landowner groups: Petroleum Resource Kutubu, Mineral Resources Star Mountains, and Mineral Resources Ok Tedi No.2 in partnership with the State. They are from the Southern Highlands, Gulf and Western Provinces.

Powi stressed the importance of landowners becoming joint venture partners with the private sector in business, rather than taking the back seat as just rent collectors.

With the resort’s ideal location in Fiji, where tourism is on an exponential growth, the shareholders are looking forward to strong dividends.

https://youtube.com/watch?v=i5IP5d8uO3Y%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

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